Funding you earn now, next payment 06:00 UTC+0.0181%/8h= +19.8% APRnext payment +$0.23 per $10,000 · paid last 24h +0.074%
Price spread now: Phoenix against Polymarket Perps+0.039%7-day average +0.056% · you sell dearer than you buy
Net, funding: paid 7d − costs−$7as in the Funding arb table
Net, price: spread back to 7d avg − costs−$40as in the Price arb table
costs, in and out, $10k−$380.382% of the position
Funding, last 7 days+0.308%+$31 on $10k
+Price spread, last 4 days (all we have)−0.022%−$2 · spread now +0.039%, 7d avg +0.056%
=The price spread sits at its 7-day average of +0.056%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps MU-USD | 1,035.8 | 0.0050 | pay 0.0006% / 1h | 41m 32s | $168K | $196K | 10x |
| Short | Phoenix MU | 1,036.2 | 0.0231 | get 0.0029% / 1h | 41m 32s | $530K | $270K | 15x |
Polymarket Perps MU-USD
Phoenix MUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Polymarket Perps. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $37.95
- Price spread: +0.039% → +0.056%
- −$1.72
- Slippage, 4 orders
- −$23.19
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$1.96
- Costs to cover
- 0.382%
- Break-even
- 7.4 days
Slippage from Polymarket Perps: live order book, 65 min ago; Phoenix: live order book, 66 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Polymarket Perps live order book, 65 min ago | 2.40 bp | 6.4 bp −$6 | 8.0 bp −$80 | 9.7 bp −$974 | doesn't fit |
| Sell Phoenix live order book, 66 min ago | 3.84 bp | 12.2 bp −$12 | 26.7 bp −$267 | doesn't fit | doesn't fit |
MU on 37 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX MUUSDC | −0.0796% | 4h | 1,036.5 | +0.072% | $1.3M | $674K | 10x | as long as short |
| Bitget MUUSDT | −0.0164% | 8h | 1,036.2 | +0.038% | $20.2M | $41.4M | 50x | as long as short |
| Aster MUUSD1 | 0.0000% | 8h | 1,036.7 | +0.082% | $21.1M | $57.9M | 20x | as long as short |
| Binance MUUSDT | 0.0000% | 8h | 1,036.1 | +0.029% | $121.3M | $537.1M | 50x | as long as short |
| Bybit MUUSDT | 0.0000% | 8h | 1,036.2 | +0.042% | $18.5M | $32.2M | 100x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,036.1 | +0.028% | $29.9M | $100.8M | 50x | as long as short |
| RISEx MU/USDC | 0.0000% | 1h | 1,036.3 | +0.051% | $315K | $386K | 20x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,036.1 | +0.024% | $61.6M | $28.4M | 75x | as long as short |
| Variational Omni MU | 0.0000% | 8h | 1,036.4 | +0.062% | $2.5M | $2.6M | — | as long as short |
| GRVT MU_USDT_Perp | 0.0000% | 8h | 1,036.1 | +0.033% | $73K | $1.4M | 10x | as long as short |
edgeX MUUSDC
Bitget MUUSDT
Aster MUUSD1
Binance MUUSDT
Bybit MUUSDT
OKX MU-USDT-SWAP
RISEx MU/USDC
Gate MU_USDT
Variational Omni MU
GRVT MU_USDT_PerpShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| StandX MU-USD | 0.0000% | 1h | 1,035.9 | +0.012% | $187K | $3.5M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,036.9 | +0.101% | $11K | $5.6M | 10x | as long as short |
| Deribit MU_USDC-PERPETUAL | 0.0000% | 1h | 1,035.8 | 0.000% | $74K | $552K | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,035.5 | −0.032% | $127K | $441K | 50x | as long as short |
| Bullet MU-USD | +0.0007% | 1h | 1,036.2 | +0.039% | $26K | $389K | 10x | as long as short |
| Aftermath Perps MUUSD | +0.0018% | 1h | 1,036.3 | +0.046% | $3K | $44K | 10x | as long as short |
| Nado MU-PERP | +0.0020% | 1h | 1,035.4 | −0.042% | $277K | $816K | 10x | as long as short |
| Lighter MU | +0.0032% | 1h | 1,036.4 | +0.061% | $1.1M | $4.9M | 20x | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,036.3 | +0.043% | $1.2M | $4.4M | 10x | as long as short |
| Extended MU_24_5-USD | +0.0032% | 1h | 1,035.8 | −0.004% | $540K | $1.1M | 10x | as long as short |
| QFEX MU-USD | +0.0032% | 1h | 1,036.1 | +0.028% | $7.0M | $18.6M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +1.502% | $19K | $5K | 12x | as long as short |
| Arcus MU-USD | +0.0040% | 1h | 1,036.1 | +0.026% | $70K | $230K | 10x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,036.1 | +0.025% | — | $175K | 25x | as long as short |
| tradeXYZ xyz:MU | +0.0050% | 1h | 1,035.8 | 0.000% | $176.0M | $89.2M | 10x | as long as short |
| Polymarket Perps MU-USDlong | +0.0050% | 1h | 1,035.8 | long leg | $168K | $196K | 10x | |
| SoDEX MU-USD | +0.0050% | 1h | 1,035.8 | 0.000% | $680K | $15K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,034.8 | −0.096% | $1.8M | $2.6M | 10x | as long as short |
| Paradex MU-USD-PERP | +0.0052% | 8h | 1,036.4 | +0.055% | $2K | — | 5x | as long as short |
| Aevo MU-PERP | +0.0080% | 1h | 1,035.5 | −0.030% | $32K | $1K | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,036.2 | +0.041% | $147K | $190K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,036 | +0.022% | $5.2M | $3.9M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,036.8 | +0.097% | $70K | $270K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,036 | +0.020% | $824 | $799 | 20x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0104% | 1h | 1,036 | +0.021% | $731K | $1.2M | 10x | as long as short |
| BloFin MU-USDT | +0.0120% | 8h | 1,036.4 | +0.057% | $1.5M | $2.1M | 20x | as long as short |
| Phoenix MUshort | +0.0231% | 1h | 1,036.2 | +0.039% | $530K | $270K | 15x |
StandX MU-USD
SunX MU-USDT
Deribit MU_USDC-PERPETUAL
HTX MU-USDT
Bullet MU-USD
Aftermath Perps MUUSD
Nado MU-PERP
Lighter MU
Lighter RH MU
Extended MU_24_5-USD
QFEX MU-USD
Injective MU/USDC PERP
Arcus MU-USD
Vest MU-USD-PERP
tradeXYZ xyz:MU
SoDEX MU-USD
Ondo Perps MU-USD.P
Paradex MU-USD-PERP
Aevo MU-PERP
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
Coinbase International MU-PERP-INTX
BloFin MU-USDT